The month of May brings with it two deadlines for application for programs offered by the McAllen Chamber of Commerce. The Innovation Grant Award and the Business Plan Competition will award up to $10,000 and $7,500, respectively, to attract, retain and encourage launching of business ideas in McAllen.
McAllen Innovation Grant Award
The McAllen Innovation Grant Award’s $50,000 grant is designed to “encourage product innovation and business creation in McAllen.” Applicants may request up to $10,000 to establish, expand, develop or advance a business or product.
The McAllen Innovation Grant Award is a competition on the basis of the strongest and most viable ideas, as well as the best presentation. Projects will be based on certain criteria.
McAllen Business Plan Competition
The McAllen Business Plan Competition fosters new business development in McAllen. Sponsored by the chamber and the McAllen Economic Development Corporation, the competition is for new, independent, for-profit ventures in the seed or start-up stages in McAllen.
A prize of $7,500 goes to the applicant that presents the best and more feasible business plan. Deadline to apply for the Business Plan Competition is May 21. Participants must also fill out a participation agreement.
Official rules outline guidelines, as well as submission and judging criteria.